Ripple says its ultimate goal is giving everyone around the world the ability to send money in a matter of seconds. At the Unbound 2018 conference in London, Ripple’s global payments specialist Cassie Craddock said Ripple’s long-term strategy is centered on spreading the company’s proprietary technology through banks and payment platforms on a massive scale.
“I think solving for global transactions is still a real pain-point, and I think that in 10 years from now, if Ripple is to be as successful as we love it to be, that international payments should happen in 3 to 5 seconds anywhere around the globe. We have use cases that support that.
So a guy who wants to send his child money from Asia to the UK because he needs some rent, for students, that is a real-life use case that we do today, and we can offer real-time settlement and transaction within 3 to 5 seconds. I think if we can do that on a global scale, which is Ripple’s vision, the banking sector and financial services as a whole – they’ll be on to a real winner there.” “I think the reality is that we’d be unrealistic and a little bit naive to say that transactions would never go via the banks.
You could use a digital asset to send transactions in real time anywhere. But people aren’t comfortable with that, and despite seeing a shift, banks will, in reality, play a part in that.
So, Ripple prefers and has chosen to kind of operate and work with banks directly to solve a real pain-point, which is around sending international payments.” Caddock was also asked whether Ripple’s early start in the world of blockchain gives it a first-mover advantage compared to newer platforms like Ethereum. “Potentially, I’m not too sure. Read more from dailyhodl.com…
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